IPTO and Terna Sign MoU for Italy-Greece Interconnector, GRITA2
IPTO, the Operator of the Greek Electricity Transmission System, and Terna, the Operator of the National Electricity Transmission System of Italy, signed today in Rome a Memorandum of Understanding (MoU), in the framework of the Italy-Greece Intergovernmental Summit, setting out the main terms and conditions for the design and development of a new electricity interconnection between the two countries.
The new direct current (DC) interconnection between Italy and Greece is a project of strategic importance that will support the existing infrastructure and the future development of the networks. It will contribute to the achievement of decarbonisation targets, while strengthening the position of Greece and Italy as energy hubs in the Mediterranean.
"Electrical interconnectivity plays a key role in advancing Europe's climate goals and the green energy transition. The new energy corridor between Greece and Italy will expand the scope for electricity exchanges while enhancing security of supply and the more efficient operation of the integrated European electricity market, offering tangible benefits to consumers in both countries. IPTO and Terna, utilizing their extensive know-how and having established a close cooperation, have all the tools to successfully implement this strategically important infrastructure project," said Manos Manousakis, President and CEO of IPTO.
"The new undersea electricity interconnection between Italy and Greece will enhance energy security in southern Italy and facilitate efficient energy supply, allowing the exploitation of new sources and the continuation of electricity exchanges between the two countries. Operating in parallel with the existing interconnection, which was put into operation in 2002, this project will further increase the efficiency of electricity transmission," said Giuseppina Di Foggia, CEO and General Manager of Terna. "We strongly believe that an interconnected European electricity system is the key to a reliable and sustainable grid."
The project will have a transmission capacity of 1,000 MW and a total length of approximately 300 km. The submarine section will extend to a length of about 240 km. with a maximum laying depth of 1,000 meters. The new interconnection will be complementary to the existing 500 MW interconnection, which started operating in 2002. Finally, IPTO and Terna are expected to invest approximately 1.9 billion euros in the project. euro.
On the Italian side, the subsea cable will end up in the municipality of Melendugno, while the new Conversion Station will be built in the municipality of Galatina, which fall under the province of Lecce.
The three-year Memorandum of Understanding establishes a common administrative structure of the project, with the aim of designing the overall strategy and coordinating activities. IPTO and Terna will also proceed with the conclusion of agreements for the joint management of the tender procedures for the supply of cables and Converters, as well as for the construction of the infrastructure.
GRITA 2 has already been included in the Ten-Year Network Development Programme (TYNDP) 2024 of the European Transmission System Operators and has been jointly proposed for inclusion in the second list of Projects of Common and Mutual Interest (PCI/PMI).
